tv World Business WHUT March 15, 2011 6:00pm-6:30pm EDT
>>this week on world business... how fears about the ndm-1 superbug affected the indian medical tourism industry i've worked in different parts of the world, in different hospitals, and resistant bacteria is common in every hospital, in every intensive care unit. naming bacteria after a country or after a city, especially when the country is trying to promote itself a medical tourism destination, i thought it wasn't a medical reason, the reason was something else. and vietnam may be expanding at a staggering rate, but with high debts and soaring inflation the country still has plenty of issues it needs to deal with. if vietnam doesn't slow down right now, it needs to slow down credit , it needs to raise interest rates and it
needs to reign in external deficit, if it doesn't do that i'm afraid we're heading towards bubble territory. plus why breaking up can be good for business, we drop in at the divorce expo in paris. >>hello and welcome. i'm raya abirached and this is world business, your weekly insight into the global business trends shaping our lives. last year, a medical study in the west created a global furore when it claimed to identify a drug-resistant superbug originating from india. indian authorities however were quick to refute the study, in particular its claims that foreign patients going to indiafor medical treatment could be infected.
>>reporter researchers: in britain claim there's a new bug in town. the ndm-1 superbug, short for new delhi metallo-1 can spread rapidly and is extremely immune to antibiotics. but many in india thinkthis label stigmatizes the city and even the entire country. >>dr. shetty: i've worked in different parts of the world, in different hospitals, and resistant bacteria is common in every hospital, in every intensive care unit. naming bacteria after a country or after a city, especially when the country is trying to promote itself a medical tourism destination,i thought it wasn't a medical reason, the reason was something else. >>reporter: even those who believe that concerns over drug resistance are valid, disagree with the report's controversial conclusion that advises against medical tourism to india. >>dr. kakkar: there is no mention of the sample size calculation, there is no mention of the difference they are trying to demonstrate
between one group and the other group. even the sample that is available, if you focus on the question of medical tourism, which means patients coming from uk or anywhere else and getting admitted to the hospitals...it's only about 14 patients. >>reporter: the report has so far had a limited effect on the indian medical tourism business. the industry is still growing and predicted to be worth over 2 billion dollars by 2012, with westerners lured by high quality healthcare at knock down prices. often administered by doctors trained in the very countries they can no longer afford treatment in. >>schmeeckle: i talked to several different people who had been to india - some to new delhi and some to other places - and they all just loved it. one lady we talked to, her only regret was not having both knees done. so i had heard positive things from lots of different people,
so i thought, well,i have to do this. >>reporter: 60-year old kimberly schmeeckle is recovering from knee replacement surgery on both her legs. the cost of the entire trip, came to under 20,000 dollars. a similar operation in the us wouldhave set her back by almost 150,000 dollars. and many are following suit. >>bali: our international arrivals - particularly from the developed world - are up by about 35 percent over last year. so the way that we are looking at it and particularly we are seeing a lot more traction happen from the us and we are seeing many more patients come from the european union. >>reporter: it's not just the price that brings them here. british resident evgenia tomlin has brought her father all the way to bangalore for knee replacement surgery, and says his recovery has been remarkable. >>tomlin: oh he's brilliant i am so thrilled about this. it's wonderful because i couldn't believe it. my dad, his first operation was 8 days
ago, and his second operation was 4 days after. and he's walking! but we had to use a wheelchair to bring my dad to india. so it's marvelous. >>reporter: outside the main hospitals however, the healthcare system in india remains poor. infection control isn't a huge priority and this recent scare has highlighted a rampant overuse of antibiotics, which can frequently lead to the evolution of resistant superbugs. >>dr. kakkar: we know there is a huge problem of over-the counter availability of anti-microbials. it is very easily available and a lot of people on their own, and on the prescription of the chemistsand pharmacies, they are using these anti-microbials when they are not required...there is a lot ofpractice of prescribing multiple drugs, when only a single or a couple of drugs could be used...so all these factors they come together and the are allowing
the pathogens to be exposed irrationally to various anti-microbials. >>reporter: for westerners the experience will most likely be a modern, state of the art hospital able to undercut us and european equivalents by sheer economies of scale. at the narayana hrudayalaya hospital in bangalore, doctors perform 35 heart surgeries in a single day. >>dr. shetty: in the us, when a heart surgeon retires, at the end of 25-30 years of active professional life, he would have done 2,000 to 3,000 surgeries in his whole life. we have surgeons who have done more than 3,000 surgeries and they're only in their 30s, and our nurses are 10 times more experienced and our technicians are 10 times more experienced. so today we can afford to have any machine that an american hospital can afford, and we have people who are 10 times more experienced than them. >>reporter: this hospital now sees patients from over 74 countries and like the wider
medical tourism industry seems not to have suffered too many ill effects from the scare. >>last week we looked at the huge leaps forward made by vietnam after it began economic reforms in the mid 80s. the progress made by the country is undeniably impressive, but it still faces some serious issues.... >>reporter: there is an energy to modern vietnam - even an it fair calls for cheerleaders and dance troupes.e >>it's an this energy proving attractive to foreign investors like intel, which has invested 1 billion us dollars here, building this high tech processing plant just outside ho chi minh city, but evenfor firms prepared to plough huge sums into the country there is a feeling of caution. >>howarth: what i find
in the government is willingness, they want to grow their industry and they want to go change their economy they're very conservative but conservative because they don't know and don't have resources of some other countries around here that they can make mistakes. they're very methodical, and ask lots of questions which i think is prudent, again trying to avoid making a mistake that will set them in the wrong direction >>richards: you've got lower lever officials who should be making decisions but they need to get theapproval of those further up the chain and sometimes that goes all the way to the prime minister's desk, so there is a lack of devolved decision making in vietnam >>baweja: truth be told, the problem is less so than other emerging economies right, if you considerhow long it takes to open a private company in a country like vietnam compared to india, vietnam compares favourably right where you have lack of transparency is policy setting. >>reporter: for 25 years,
since economic reforms began, vietnam has been moving in the right direction, transforming itself almost beyond recognition. from the brink of starvation and ravaged by war it is now a vibrant, rapidly growing and modernising economy. >>baweja: vietnam is the rising dragon of the east if you consider the growth numbers but it is a dragon on steroids >>richards: so there is real pride in the way the country has developed but there is a long way to go yet before it is seen as one of the leaders in the south east asia region. >>reporter: gdp is growing at nearly 7 percent, a figure many western economies can only dream of, yet there is an increasing fear this growth is unsustainable./e >>baweja: if vietnam doesn't slow down right now, it needs to slow down credit , it needs to raise interest rates and it needs to reign in external deficit, if it doesn't do that i'm afraid we're heading towards bubble territory. >>reporter: inflation is already rampant, hitting 11.8% in december 2010 on a year on year basis. the dong has been devalued three times
since last year. and there is a current account deficit of $2 billion dollars. >>th oh m:taur growth rate is 6.7 % but actually inflation 11%. a growth rate of 6.7% inflation needs to be the same or lower, otherwise it means the real economy is low. that is why vietnam needsto improve >>reporter: meaning this stellar growth may all count for nothing to the man on the street, presenting a real issue in a country already suffering from serious inequality. >>baweja: i think the government has to keep a very keen eye on social unrest especially in an economy that is overheating, because unlike the developed world in the developing world food prices comprise of a very large part of the overall consumer basket, and if food prices and consumer prices in general are rising it's a big tax on the have nots >>reporter: while in the cities young upwardly
mobile youngsters snap up mobile phones and the latest fashions in rural vietnam - which accounts for 75% of the population a quarter of people live on less than $1.25 a day >>it's a deepening divide posing some say the nation's greatest threat. >>professor weeks: if you begin to get ostentatious displays of wealth, which you're beginning to get now, i think there is going to be quite a social strain, i think that is probably the greatest danger the government faces >>richards: if economic growth slows, you start seeing unemployment rise this could create social problems, anti government sentiment and this is something the government is very fearful of. >>professor dinh: there are still big gaps and in the future i think we need to have a new model that combines high growth and equity. >>reporter: a new model that requires inward investment, especially in infrastructure
to link the booming cities to rural areas. it's estimated about 120 billion dollars is required for railways, roads, electricity and water supplies. >>yet despite steps to open up the economy, the government remains extremely conservative, too oftenbureaucratic red tape and an economy dominated by large state-owned groups put off would be investors. >>professor weeks: if foreign investors hoping for a vietnam in five years that has an independent central bank, a floating exchange rate an open capital account then they are going to be disappointed. >>richards: things have really changed in the last 10, 20 years. but there's still a sense the communist party have this controlling mentality, where it's really reluctant to go the whole way/e >>professor weeks: i think it will remain screened. the vietnamese government is not just about to open things and particularly, it's not about to let foreign investors
enter into a bidding match over vietnamese resources, now having said that if you are a foreign investor you can make a lot of money in vietnam. >>reporter: the country is freeing up, but with the communist legacy looming large, changes will be small and will not happen overnight. >>baweja i think this is going to be a slow process, i don't think they will, i think they will begin to let go of key things like interest rates and credit rationing, but over a period of time, this is not something that will change over the next two years >>reporter: that said, if you listen to the country's successful businessmen, the future for vietnamis the focus and looks to be a bright one. >>trung: the thinking of the vietnamese people is very positive and that's important, everyone thinks tomorrow is better and that we can do something tomorrow and we don't have time to think of the past, that's the key element to the fast development of the economy
>>still to come on world business... >>half of modern marriages end in failure and a whole industry has sprung up to cater for the business of divorce >>and the sport with runaway bulls that has become a runaway success in the us >>we'll sell almost 2m tickets this year just in the united states. and then we've got events in canada, brazil, mexico and australia too. >>bucking the downturn... and the rest in just a moment on world business... >>in western europe the number of divorces has increased three fold over the past thirty years. while a breakup can be a traumatic experience for those involved, it has created a whole new industry
for businesses helping couples muddle through their break up and then get on with the rest of their lives. >>reporter: sophie and eric married last year and have invited some friends over to celebrate the anniversary. it's just as well they haven't been put off by their friends. bruno here is on his secondmarriage. marie and jean marie are a new couple - both are divorcees. same thing with christophe and his girlfriend. in fact nearly half of the guests have gone through a divorce. >>and in fact statistics show that is the new norm. one in two marriages in french cities now end infailure. >>taboos related to divorce have disappeared. take the french president - nicholas sarkozy twice divorced - is - currently married to a far younger ex supermodel carla bruni. >>bockman: "while a divorce is rarely a pleasant experience for those involved, businesses are now waking up to the stark
reality that relationship breakdown represents a multi billion dollar marketing opportunity for them at least." >>reporter: this trade show in paris is a first. called the "divorce and new beginning expo" its brought together more than a hundred different businesses all looking to profit from heartbreak. >>gaumet: "of course getting divorced has created a business opportunity but nobody accuses doctors of profiting from the illness of their patients. what we are doing is bringing together businesses from all walks of life under one roof to help people at a difficult point in their life." >>reporter: money and custody are still the key sticking point in around 60 percent of separations.so it's no surprise lawyers and tax accountants are on hand. their advice is eagerly accepted here because it's free. in their offices can cost up to 280 dollars an hour. >>veronique: "my divorce is extremely complicated
because there is the problem of property that has to be settled. today i am so caught up over the issues of my separation that everything to do with giving myself a new look, a new start on life and the rest will have to wait." >>reporter: even private detectives are on hand to offer their services. handy to find out if an ex husband is visiting five star hotels while claiming he is broke. >>fondrillon: "people cheat and lie. they want to give up as little as possible in a divorce. my role is often to see if someone is working or not and whether they are being paid under the table." >>reporter: for those who have signed the divorce papers - the next step is getting on with the restof their lives. and there are plenty of businesses to look after that side too. whether it's givingyour new bachelor pad a jazzy look or toning up your body after the separation blues. and that cancost anything from a few hundred dollars to several thousand. >>blanco: by not taking care of yourself you are likely
to stay in deep depression, if you let yourself go and refuse to look in the mirror out of self denial that spells trouble. to be able to love someone again you have to like yourself again and look after yourself." >>reporter: therapists and relationship counsellors are also on hand to help people learn from marriage setbacks. 80 percent of divorces are now instigated by women, leaving men looking for answers. >>gerald: "by coming here i have been given the keys if you will to restart my life. i do not know how to use the keys yet and which door to open but now i can at least try and advance." >>reporter: around a third of the businesses provide match making opportunities. companies like pasta party which brings together 50 new divorcees to meet people of a similar age with similar interests. meeting over dinner in groups means less pressure, but also no opportunity to photoshop your looks like you can online. >>there is no guarantee you will meet a love interest but it's the first step in getting out into the new world of dating again.
>>henry: "i don't think of it as a money making venture. it's an opportunity to help people have a good time and to help them increase their circle of friends. >>reporter: meanwhile our newlyweds have moved out of the city and are renovating an old farmhouse. it will cost thousands of euros and take up all their weekends but as the saying goes love is blind. >>in the united states, the professional bullriders series is rough, spectacular, and for the best riders, extremely lucrative. from beginnings that could best be described as humble, it's not only developed into the world's premier bullriding competition...but also a genuine entrepreneurial successstory...
>>mauney: i lacerated my liver, broke all my ribs on my right side...bruised my kidneys, my spleen. bull stepped on me. >>clarke: i lacerated my liver..bruised my lungs, broke some ribs. i was in intensive care for about5 days. >>reporter: it is quite frankly pure madness, but it's brilliant to watch and for the 40 men competing on the professional bull riders top tour, a chance to display some incredible skills.... >>mauney: from the time you nod your head that you get off its all reaction. if you're thinking about it it's too late... >>elliot: some guys just look smooth and make it look easy and then some guys look like it's just a dogfight every time they ride one. >>jong: so the bulls range in size from about 1100 to just over 2000 pounds. when the rider's ready,he will nod his head, the chute will open. then he's got eight seconds
to impress the judges. as you can see he's off there...and preferably...not get killed. he didn't last eight seconds. >>reporter: the pbr tour is a true american success story...a story that started in 1992 when a bunch of bullriders decided to break away from the broader rodeo circuit that the sport had always belonged to... >>lambert: the first day there were 11 of us and we put 1000 dollars apiece in to form this company and then we offered it to the top 30 bull riders in the world at that time in professional rodeo. that's where we all came from. >>reporter: 22 took up the offer and they never looked back...today the tour runs over 300 sanctioned events a year and in the last 5 years...ticket sales have almost doubled... >>gleason: we'll sell almost 2m tickets this year just in the united states. and then we've got events in canada, brazil, mexico and australia too. >>reporter: if they so wished,
those initial backers could today cash in their shares for over $4m...some have...but others prefer to remain involved with an enterprise that is as much theatre as it is sport... >>rasmussen: we walk a fine line between a professional sport and a broadway show or variety show. and you have to really focus on the competition because to the riders, it's their living, it's their sport. to us, we want to make the ticket worthwhile. >>reporter: a key part of that ticket are the bulls themselves, and some are stars in their own right, worth over a million dollars...specifically bred for bucking, certain animal rights activists have raised concerns about their treatment...but organizers are adamant any criticism is unfounded. >>lambert:...they're always in great shape...they're fed the best feed because they are athletes andthey have to be in the very best shape they can possibly be in and if a bull is hurting in any way he won't perform as well.
>>reporter: a good performance from a bull can of course spell trouble for whoever is on his back, but remarkably, a grueling 11 month tour now pulling in over 100m tv viewers has only one recorded fatality. one major reason that figure isn't higher...the work of the tour's unsung heroes... >>goram: ... sometimes you gotta get your hands on them...sometimes you have to get run over....justwhatever it takes to keep them from running over the cowboy. >>reporter: in it's first year, the pbr's champion won less than $100000 in prize money...this year,the top rider will walk away with over $2m. and it's fairly safe to say, he will have earned it... >>it's a man's sport. testosterone... >>there ain't no adrenaline rush like sitting on the back of a bull that's 10 times bigger than whatyou are and trying their best to kill you. >>it looks very dangerous though >>i guess so. it's all about being a man i guess, you know.
>>what do you think? >>it's awesome. it's probably the best sporting event i've ever been to. you know all the energy that's going into it. from the crowd and the entertainment and the rider - just having a blast. it's awesome. >>reporter: but adulation or not...make no mistake...few of these riders are leading a pampered lifestyle... >>elliot: i try to travel as cheap as possible. we split rooms as much as we can, just to try to cutcosts down. >>mauney: shoot this year in one week i went from cheyenne on tuesday to livingstone montana wednesday, ubay city california thursday, weatherfrod texas friday and then san antonio i was saturday sunday. >>reporter: and one rule applies to every rider...no show, no dough... >>elliot: we don't' have guaranteed contracts in this sport, you know. if we're sitting at home we're not getting paid. >>reporter: which also means riders are seldom in peak physical condition... >>clarke: it's not one of them things where if you feel sick you're like i'm just gonna stay at hometoday. you've gotta get on no matter what.
>>reporter: it must be said a lot of riders did seem to be limping. groin strains and torn ligamentsabound. all the riders wear a reinforced vest, but helmets aren't compulsory...but whatever they'rewearing for one simple reason...the line between one night's triumph >>reporter: .....and another night's trauma is a narrow one indeed... >>elliot: ...every time no matter what you're gonna hit the ground. >>reporter: but if you don't hit the ground till after the buzzer sounds, the result could well be described as 8 seconds of pure joy... >>mauney: you are on a real adrenaline high after something like that? o yeah. when you hit the ground after going like that you feel 10 foot tall and bulletproof. >>reporter: which perhaps explains why even if their sport seems like pure insanity....for these men, it truly is the sweetest form of madness... >>mauney: my dad always told
me from the time i was little...you play the game, you take the pain. >>elliot: it's just exciting. it's an adrenaline rush. you just can't explain it really. >>clarke: you cant' get that feeling anywhere else. so the day that that goes away its time not to do it anymore. >>that's it for this week's world business. thanks for watching. we'll see you again at the same time next week. m: